Shiba after a long jump in price has shown some volatility. Shiba Inu is now the 11th largest cryptocurrency in terms of market value. That means a token that just last year someone called himself Ryoshi, and created on the theme of a Japanese hound, is now worth more than $30 billion – Peloton Interactive Inc. And double Albania’s GDP market capitalization.
Shiba Inu coin is dropping down bit by bit compared to its huge upturn in the last two weeks. Currently, the coin is trading at $0.00005807. The price isn’t that dreadful but is alarming because it’s approaching the lowest once again. In fact, prices move up and down within seconds and really affect coins’ status in the market.
Shiba Inu even managed to outperform her seemingly growing Dogecoin. And the value of the coin is much higher than that of blockchain networks, such as Polygon.
How did we get here Mem stocks live and die with attention, and SHIB’s unusual background, as the token is known, is rooted in a publicity stunt. Initially, Ryoshi handed over half the supply of Sheba Ano to Ethereum co-founder Vitalik Buterin, one of the most respected and well-known figures in crypto.
The high recorded price of Shiba in the last 24 hours is $0.00006025 while the low recorded price is $0.00005673. As it’s obvious that Shiba had crossed$0.000080 at the end of October. Besides, on the very first November, it was trading with $0.000073.
Now comparing the prices, it’s vivid that Shiba is losing its charm. Verily, it’s alarming because it really puts the investors in danger. A quick glance at the past few day’s prices unveils many things about Shiba.
It was trading with $0.00004500 on 4 Nov 2021. However, on the next day, it took an upturn and hit $0.00005027. Besides, on 6 November, it reached $0.00006474. Thus, it ended the day with $0.00006023 on 6 November.
Furthermore, on 7 November, Shiba was trading with $0.00005782. Indeed, it dropped a lot in a few days. It almost started the day with $0.00005782. By the way, Shiba reached $0.00006025 today but currently, it’s trading at $0.00005807.
The coin has gained its value by 0.7% in the last hour. But it has dropped down by -1.8% in the last 24 hours. Additionally, it has lowered by -10.7% in the last 7 days. Thus, it’s clear that coin has descended on a great scale in the last week. Though, it has taken an upsurge in the last hour.
Trading with rank 11, Shiba has fixed its worth in the Crypto market. Moreover, Shiba was trading with rank 9 and then 10. This shows that it has the potential to reach a prominent position in the market.
What’s your view about Shiba’s future? Will Shiba resist the current market? Wi Shiba make an upsurge in the upcoming days or not? Is Shiba receding back and hitting its former low price?